Biotech, Diagnostics, M&A

LabCorp has acquired Covance for $6.1 billion

Posted on 04 November 2014

Tags: , ,

Laboratory Corporation of America acquired Covance for $6.1 billion.Covance is a contract research organization (CRO) that provides services for drug development and animal testing.

Both companies’ boards have approved the deal.

Covance shareholders will receive $75.76 in cash and 0.2686 shares of LabCorp for each Covance share.

The deal will allow LabCorp a larger international audience, as well as access to significant clinical trial support business. Revenue is expected to be broken down as 32 percent from managed care, 29 percent from pharmaceutical and biotech companies, 22 percent from commercial clients, 12 percent from Medicare/Medicaid, and 5 percent from private patients.

For further deal information visit Current Agreements (subscription required)

Related

Report: Top 50 Big Pharma Partnering and M&A Deal Trends

Report: Top 50 Big Biotech Partnering and M&A Deal Trends

Browse: Complete Current Partnering report catalog

View: Partnering Scorecard in CP Insight– view top life science partnering deals by value

View: DealMetrics in CP Insight – the latest deal trend infographics for life science deal making

View: CP Insight’s Big Pharma Deal Making Scorecard – latest trends in big pharma deal making activity

View: CP Insight’s Big Biotech Deal Making Scorecard – latest trends in big biotech deal making activity

Signup: Current Partnering Dealmakers Update – weekly newsletter providing the latest life science industry deal news, deal making trends, partnering events – sign up now

Signup: Current Agreements Deals Review – monthly newsletter – reviewing the previous month’s life science deal making – partnering, M&A and financing – sign up now

Subscribe: Current Agreements life sciences partnering, M&A and financing deals database – find out more

Follow us on: LinkedIn Current Partnering | LinkedIn Business Development Network | @Currentpartner on Twitter

Print Friendly, PDF & Email

Leave a Reply